Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Acquires Shares of 550 Bristol-Myers Squibb (NYSE:BMY)

Financial News Live · Apr 1, 2023 04:12

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Bristol-Myers Squibb (NYSE:BMY – Get Rating) during the fourth quarter, Holdings Channel.com reports. The fund acquired 550 shares of the biopharmaceutical company's stock, valued at approximately $40,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foster Group Inc. raised its holdings in shares of Bristol-Myers Squibb by 2.2% in the fourth quarter. Foster Group Inc. now owns 6,941 shares of the biopharmaceutical company's stock valued at $499,000 after purchasing an additional 148 shares during the last quarter. Xponance Inc. raised its holdings in shares of Bristol-Myers Squibb by 15.6% in the fourth quarter. Xponance Inc. now owns 253,695 shares of the biopharmaceutical company's stock valued at $18,253,000 after purchasing an additional 34,161 shares during the last quarter. Community Bank of Raymore increased its holdings in Bristol-Myers Squibb by 152.6% during the fourth quarter. Community Bank of Raymore now owns 15,660 shares of the biopharmaceutical company's stock worth $1,127,000 after buying an additional 9,460 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in Bristol-Myers Squibb by 2.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 43,261 shares of the biopharmaceutical company's stock worth $3,113,000 after buying an additional 888 shares during the last quarter. Finally, BNC Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the fourth quarter worth about $816,000. Hedge funds and other institutional investors own 75.51% of the company's stock.

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Bristol-Myers Squibb Price Performance

Shares of BMY traded up $0.94 during midday trading on Friday, reaching $69.14. The stock had a trading volume of 4,818,850 shares, compared to its average volume of 8,113,270. The company has a market capitalization of $145.42 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.48 and a beta of 0.46. The company has a current ratio of 1.25, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. Bristol-Myers Squibb has a 12-month low of $65.28 and a 12-month high of $81.43. The company's 50-day moving average is $70.16 and its 200 day moving average is $72.82.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.11. The business had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $11.20 billion. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post 8.06 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, April 6th. Bristol-Myers Squibb's dividend payout ratio is 77.29%.

Insider Buying and Selling

In other news, CEO Giovanni Caforio sold 240,000 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the completion of the sale, the chief executive officer now directly owns 236,104 shares in the company, valued at $17,625,163.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Giovanni Caforio sold 240,000 shares of the business's stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the transaction, the chief executive officer now directly owns 236,104 shares of the company's stock, valued at $17,625,163.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Powell sold 11,183 shares of the business's stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $74.69, for a total value of $835,258.27. Following the transaction, the executive vice president now directly owns 23,043 shares in the company, valued at $1,721,081.67. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BMY. Atlantic Securities raised their price objective on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, February 3rd. Cantor Fitzgerald assumed coverage on shares of Bristol-Myers Squibb in a report on Tuesday, January 17th. They set an "overweight" rating and a $95.00 price objective for the company. StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, March 16th. They issued a "strong-buy" rating for the company. Wells Fargo & Company lifted their target price on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 3rd. Finally, Morgan Stanley lifted their target price on shares of Bristol-Myers Squibb from $60.00 to $62.00 and gave the stock an "underweight" rating in a research note on Friday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $79.69.

Bristol-Myers Squibb Company Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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